Amaya Gaming to Buy PokerStars Owner

Online Gambling Proponents Hope the Deal will Reshape the Industry in the U.S

By

Kate O'Keeffe

Updated June 13, 2014 4:24 p.m. ET

The owner of PokerStars, the world's largest online poker site, has agreed to sell itself for $4.9 billion in a bid to re-enter the U.S. after being forced out by the Justice Department several years ago.

Online gambling proponents hope the deal will radically reshape the industry in the U.S., which has thus far fallen short of even the most pessimistic revenue estimates and now faces increasing opposition from powerful opponents...